India to emerge as second most resilient economy in 2021; Germany tops: PHDCCI Report

• India will emerge as the second most resilient economy in 2021, as per the International Economic Resilience (IER) Rank, released by industry body, PHD Chamber of Commerce and Industry (PHDCCI).
• The ranking has been topped by Germany, among the top-10 leading economies. South Korea is at third position in the list.
• The ranking is based on analysis of five indicators :
  1. real GDP growth rate,
  2. merchandise export growth rate,
  3. current account balance (as percentage of GDP),
  4. general government net lending/borrowing (as percentage of GDP) and
  5. gross debt-to-GDP ratio.
• Apart from this, India’s real GDP growth rate is projected to be the highest in the year 2021 among the top-10 leading economies in the world, at 11.5%.
• It reflects India’s strong “economic resurgence” to the global economic turmoil caused by the COVID-19 pandemic.

Source: The Asian Read